The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely:—

1. a corporate debtor undergoing a corporate insolvency resolution process or a pre-packaged insolvency resolution process;
2. a corporate debtor having completed corporate insolvency resolution process twelve months preceding the date of making of the application;
3. a corporate debtor or a financial creditor who has violated any of the terms of resolution plan which was approved twelve months before the date of making of an application under this Chapter;
4. a corporate debtor in respect of whom a liquidation order has been made.

Explanation.—For the purposes of this section, a corporate debtor includes a corporate applicant in respect of such corporate debtor.